Chevron Co. (NYSE:CVX) Shares Sold by TrueWealth Advisors LLC

TrueWealth Advisors LLC cut its stake in Chevron Co. (NYSE:CVX) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,711 shares of the oil and gas company’s stock after selling 136 shares during the period. TrueWealth Advisors LLC’s holdings in Chevron were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its position in Chevron by 3.0% during the second quarter. Grove Bank & Trust now owns 17,983 shares of the oil and gas company’s stock worth $2,813,000 after purchasing an additional 527 shares during the last quarter. Processus Wealth & Capital Management LLC increased its holdings in shares of Chevron by 2.5% during the 2nd quarter. Processus Wealth & Capital Management LLC now owns 8,933 shares of the oil and gas company’s stock worth $1,397,000 after buying an additional 214 shares during the last quarter. Allegiance Financial Group Advisory Services LLC raised its position in shares of Chevron by 5.8% during the 2nd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,839 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 100 shares during the period. Traynor Capital Management Inc. raised its position in shares of Chevron by 8.5% during the 2nd quarter. Traynor Capital Management Inc. now owns 16,614 shares of the oil and gas company’s stock valued at $2,599,000 after buying an additional 1,307 shares during the period. Finally, Quotient Wealth Partners LLC lifted its holdings in Chevron by 2.9% in the second quarter. Quotient Wealth Partners LLC now owns 44,313 shares of the oil and gas company’s stock valued at $6,931,000 after acquiring an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, HSBC boosted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Up 1.3 %

Shares of Chevron stock traded up $1.89 during trading hours on Friday, reaching $147.62. 4,824,078 shares of the company were exchanged, compared to its average volume of 7,814,477. The firm has a market cap of $272.06 billion, a PE ratio of 13.58, a PEG ratio of 2.46 and a beta of 1.10. The stock’s fifty day moving average is $152.97 and its 200 day moving average is $155.78. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.